Page 1 of 1

Financing Is Readily Available But Goes Most Easily To Those Who Plan Ahead.

Shawn Beaudoin

Published 6 months ago

It’s smart to get preapproved for a loan before you start shopping for big-ticket items like a mortgage or a car.1 Getting preapproved for a loan means that you know how much money a lender is willing to provide, at what rate, and on what terms. It’s a way to find out what kind of financing you’re qualified for before you go too far down the wrong path.

Preapproval involves submitting a preliminary application to a lender that will review your credit, your income, and other factors, while also telling you which loans are available to you. As a result, you can focus solely on loans that you’re likely to qualify for, while also having a better idea of which price ranges you should stay within.

Key Takeaways:

- Preapproval should ALWAYS be free

- Preapproval means your lender actually reviews your financial picture to determine what you qualify for

- Preapproval allows you to focus on purchases you know you can afford

- Preapproval doesn't obligate you to borrow the money

- Preapproval can be a HUGE negotiating edge when shopping for your new home.

Need a copy?

Download PDF

National Rate Averages

Conf. 30Y Fixed


FHA 30Y Fixed


Jumbo 30Y Fixed


Rate averages are calculated from actual locked rates. Learn more.

Additonal Resources

What Does the Rest of the Year Hold for Home Prices?

Published 2 days ago

What Home Buyers Need To Know About Appraisal Gaps

Published 5 months ago

How to Unfreeze Your Credit

Published 5 months ago

Flip the Script and Get Mortgage Assured to Buy Your New Home!

Published 5 months ago

What’s Your Rate? The Answer Is: It Depends…

Published 6 months ago

Financing Is Readily Available But Goes Most Easily To Those Who Plan Ahead.

Published 6 months ago

The Shawn Beaudoin Team @ Rockstar Home Loans, Tampa

Company NMLS# 227765

4301 W Boy Scout Blvd #170
Tampa, Florida 33607
  • Equal Housing Opportunity Logo

License #: MLD949 (Mortgage Lender License); MLD2037 (Mortgage Lender Servicer License)
Other Trade Names: Alegre Home Loans; DayOne Mortgage Group; Direct Mortgage Funding; eClick Lending; Heritage Home Loans; Midwest Equity Mortgage; Neo Home Loans; Pacific Northwest Lending; PCL Financial Group; Robert Coomer Group; The Driscoll Mortgage Team; The Mindful Mortgage Team; Veteran’s Mortgage Source; Von Mortgage; Wells Funding Group

© 2022 Lender Launchpad. This is not a Government website. Lender Launchpad and its products are not endorsed by the Department of Veterans Affairs or the US Department of Housing and Urban Development. The content on this site is for educational purposes only and is not an advertisement for a product or an offer to lend. If you have questions about the loan officers featured within our lender directory, please visit the Nationwide Mortgage Licensing System & Directory for more information and to check their licensing status at